NACP vs. SHE ETF Comparison

Comparison of Impact Shares NAACP Minority Empowerment ETF (NACP) to SPDR SSGA Gender Diversity Index ETF (SHE)

NACP

Impact Shares NAACP Minority Empowerment ETF

NACP Description

The investment seeks investment results that, before fees and expenses, track the performance of the Morningstar Minority Empowerment Index (the underlying index). The fund will, under normal circumstances, invest at least 80% of its total assets, plus borrowings for investment purposes (the "80% basket") in component securities of the underlying index ("Component Securities"). The underlying index is designed to measure the performance of large and mid- capitalization companies that are "empowering to minorities," and to exhibit risk and return characteristics similar to those of the Morningstar US Large-Mid Cap ® Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$42.72

Average Daily Volume

3,518

Number of Holdings ^*

197

* may have additional holdings in another (foreign) market

SHE

SPDR SSGA Gender Diversity Index ETF

SHE Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the SSGA Gender Diversity Index, which tracks U.S. companies that are leaders in advancing women through gender diversity on their boards of directors and in management. Under normal market conditions, the fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. In addition, it may invest in equity securities that are not included in the index, cash and cash equivalents or money market instruments. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$119.89

Average Daily Volume

3,450

Number of Holdings ^*

239

* may have additional holdings in another (foreign) market

Performance

Period	NACP	SHE
30 Days	2.08%	2.93%
60 Days	4.48%	5.56%
90 Days	6.57%	7.44%
12 Months	32.92%	34.03%

104 Overlapping Holdings

Symbol	Grade	Weight in NACP	Weight in SHE	Overlap
AAPL	C	5.03%	4.14%	4.14%
ABT	B	0.69%	0.73%	0.69%
ACM	A	0.05%	0.05%	0.05%
ACN	C	3.58%	4.39%	3.58%
ADM	D	0.11%	0.08%	0.08%
AEP	D	0.19%	0.16%	0.16%
ALB	C	0.04%	0.04%	0.04%
AMH	D	0.05%	0.04%	0.04%
APTV	D	0.08%	0.11%	0.08%
AVB	B	0.11%	0.11%	0.11%
AXP	A	0.56%	0.65%	0.56%
BA	F	0.38%	0.26%	0.26%
BAC	A	0.99%	1.2%	0.99%
BIIB	F	0.1%	0.09%	0.09%
BK	A	0.17%	0.21%	0.17%
C	A	0.45%	0.51%	0.45%
CI	F	0.37%	0.32%	0.32%
CLX	B	0.07%	0.08%	0.07%
CMI	A	0.15%	0.24%	0.15%
CMS	C	0.07%	0.06%	0.06%
CPB	D	0.04%	0.03%	0.03%
CVS	D	0.27%	0.25%	0.25%
CVX	A	1.04%	0.98%	0.98%
D	C	0.18%	0.23%	0.18%
DAL	C	0.09%	0.04%	0.04%
DD	D	0.14%	0.1%	0.1%
DE	A	0.36%	0.32%	0.32%
DTE	C	0.08%	0.11%	0.08%
DUK	C	0.32%	0.27%	0.27%
EA	A	0.45%	0.12%	0.12%
EBAY	D	0.11%	0.14%	0.11%
ECL	D	0.21%	0.2%	0.2%
ED	D	0.12%	0.13%	0.12%
EIX	B	0.11%	0.13%	0.11%
EMR	A	0.22%	0.25%	0.22%
EQIX	A	0.29%	0.25%	0.25%
ETN	A	0.44%	0.51%	0.44%
ETR	B	0.08%	0.11%	0.08%
EXC	C	0.15%	0.13%	0.13%
FDX	B	0.25%	0.22%	0.22%
GE	D	0.69%	0.58%	0.58%
GILD	C	0.35%	0.42%	0.35%
HLT	A	0.17%	0.53%	0.17%
HON	B	0.46%	0.52%	0.46%
HRL	D	0.03%	0.04%	0.03%
HSY	F	0.1%	0.1%	0.1%
HUBB	B	0.06%	0.09%	0.06%
IFF	D	0.09%	0.07%	0.07%
ILMN	D	0.07%	0.08%	0.07%
INTC	D	1.52%	1.87%	1.52%
IPG	D	0.16%	0.05%	0.05%
ITW	B	0.27%	0.29%	0.27%
JCI	C	0.17%	0.24%	0.17%
JNJ	D	1.44%	1.41%	1.41%
JPM	A	2.39%	2.69%	2.39%
KO	D	0.99%	0.99%	0.99%
KR	B	0.13%	0.15%	0.13%
LH	C	0.07%	0.07%	0.07%
LNG	B	0.16%	0.17%	0.16%
LOW	D	0.51%	0.96%	0.51%
LUV	C	0.06%	0.02%	0.02%
MAR	B	0.19%	0.65%	0.19%
MCO	B	0.26%	0.33%	0.26%
MDT	D	0.42%	0.41%	0.41%
META	D	3.63%	4.59%	3.63%
MMM	D	0.26%	0.25%	0.25%
MRK	F	1.03%	0.89%	0.89%
MSFT	F	4.63%	4.17%	4.17%
NEM	D	0.22%	0.2%	0.2%
NKE	D	0.36%	0.42%	0.36%
NOC	D	0.29%	0.31%	0.29%
NSC	B	0.2%	0.18%	0.18%
NVDA	C	4.9%	4.79%	4.79%
OC	A	0.05%	0.06%	0.05%
PEG	A	0.14%	0.17%	0.14%
PFG	D	0.03%	0.08%	0.03%
PNC	B	0.27%	0.32%	0.27%
PPL	B	0.08%	0.09%	0.08%
PSX	C	0.22%	0.15%	0.15%
RCL	A	0.12%	0.31%	0.12%
RF	A	0.07%	0.09%	0.07%
ROK	B	0.11%	0.11%	0.11%
SCHW	B	0.33%	0.47%	0.33%
SJM	D	0.05%	0.05%	0.05%
SPGI	C	0.55%	0.58%	0.55%
SWK	D	0.06%	0.05%	0.05%
SYF	B	0.08%	0.09%	0.08%
T	A	0.45%	0.63%	0.45%
TFC	A	0.22%	0.24%	0.22%
TFX	F	0.04%	0.03%	0.03%
TROW	B	0.09%	0.09%	0.09%
TSN	B	0.07%	0.05%	0.05%
TT	A	0.29%	0.34%	0.29%
TXT	D	0.06%	0.05%	0.05%
UBER	D	2.29%	0.57%	0.57%
UNH	C	1.95%	1.75%	1.75%
V	A	1.53%	1.62%	1.53%
VST	B	0.11%	0.2%	0.11%
VZ	C	2.26%	0.77%	0.77%
WBA	F	0.03%	0.03%	0.03%
WEC	A	0.1%	0.11%	0.1%
XEL	A	0.12%	0.12%	0.12%
XOM	B	2.0%	1.46%	1.46%
XYL	D	0.11%	0.11%	0.11%

NACP Overweight 93 Positions Relative to SHE

Symbol	Grade	Weight
AMZN	C	4.47%
QCOM	F	3.18%
IBM	C	3.08%
GOOGL	C	2.41%
TSLA	B	2.22%
GOOG	C	2.16%
PANW	C	1.81%
MU	D	1.75%
MA	C	1.4%
ABBV	D	1.22%
PEP	F	0.92%
TMO	F	0.83%
WMT	A	0.73%
NEE	D	0.66%
DHR	F	0.64%
HPQ	B	0.62%
PFE	D	0.62%
UNP	C	0.56%
DELL	C	0.54%
COP	C	0.49%
ELV	F	0.47%
MS	A	0.47%
PLD	D	0.42%
BSX	B	0.41%
ADP	B	0.4%
MELI	D	0.38%
MDLZ	F	0.36%
BMY	B	0.35%
UPS	C	0.35%
SO	D	0.35%
PYPL	B	0.27%
FCX	D	0.25%
AON	A	0.24%
CSX	B	0.24%
MPC	D	0.23%
BDX	F	0.23%
WMB	A	0.19%
OKE	A	0.18%
SRE	A	0.18%
TRV	B	0.18%
CCI	D	0.18%
GM	B	0.18%
URI	B	0.18%
MET	A	0.17%
VLO	C	0.17%
LHX	C	0.16%
KMI	A	0.15%
HES	B	0.15%
EW	C	0.15%
F	C	0.15%
A	D	0.14%
HWM	A	0.14%
OTIS	C	0.13%
AME	A	0.13%
VRSK	A	0.13%
VMC	B	0.12%
IR	B	0.12%
MLM	B	0.12%
KHC	F	0.12%
RMD	C	0.11%
DVN	F	0.1%
PPG	F	0.1%
PCG	A	0.09%
SBAC	D	0.08%
FE	C	0.08%
NDAQ	A	0.08%
ES	D	0.08%
NRG	B	0.07%
LII	A	0.07%
EXPD	D	0.07%
BAH	F	0.07%
BAX	D	0.07%
K	A	0.07%
HBAN	A	0.07%
DOC	D	0.06%
DGX	A	0.06%
NI	A	0.05%
NDSN	B	0.05%
UAL	A	0.05%
LNT	A	0.05%
AES	F	0.05%
JBHT	C	0.05%
BG	F	0.05%
CF	B	0.05%
REG	B	0.04%
LECO	B	0.04%
EMN	D	0.04%
USFD	A	0.04%
BWA	D	0.03%
SCCO	F	0.03%
MOS	F	0.03%
CNH	C	0.03%
TAP	C	0.03%

NACP Underweight 135 Positions Relative to SHE

Symbol	Grade	Weight
CSCO	B	-4.03%
INTU	C	-3.56%
LLY	F	-2.32%
NFLX	A	-1.78%
PG	A	-1.5%
BKNG	A	-1.33%
ADSK	A	-1.25%
TJX	A	-1.21%
COST	B	-1.13%
FTNT	C	-1.08%
WFC	A	-0.97%
SBUX	A	-0.94%
CAT	B	-0.94%
LIN	D	-0.89%
PGR	A	-0.67%
CMG	B	-0.63%
HUBS	A	-0.58%
TMUS	B	-0.52%
RTX	C	-0.5%
ANSS	B	-0.49%
GDDY	A	-0.47%
VRTX	F	-0.45%
CDW	F	-0.44%
TYL	B	-0.44%
MMC	B	-0.43%
ROST	C	-0.41%
ABNB	C	-0.36%
LULU	C	-0.33%
ZTS	D	-0.31%
MCK	B	-0.31%
FLUT	A	-0.31%
TWLO	A	-0.28%
TGT	F	-0.27%
TSCO	D	-0.26%
CL	D	-0.26%
COF	B	-0.24%
DHI	D	-0.22%
DLR	B	-0.22%
AKAM	D	-0.22%
SPG	B	-0.22%
EOG	A	-0.21%
WCN	A	-0.21%
CARR	D	-0.19%
PSA	D	-0.19%
AIG	B	-0.19%
PRU	A	-0.19%
CHTR	C	-0.18%
ALL	A	-0.18%
GWW	B	-0.17%
SQ	B	-0.17%
FIS	C	-0.17%
O	D	-0.16%
ULTA	F	-0.16%
HIG	B	-0.15%
BURL	A	-0.15%
COR	B	-0.15%
IDXX	F	-0.14%
BKR	B	-0.14%
DECK	A	-0.14%
MTB	A	-0.14%
CSGP	D	-0.14%
WSM	B	-0.14%
VICI	C	-0.14%
OXY	D	-0.14%
IRM	D	-0.13%
GIS	D	-0.13%
WTW	B	-0.13%
TTD	B	-0.13%
EXR	D	-0.12%
STZ	D	-0.12%
VLTO	D	-0.12%
ALNY	D	-0.12%
CNC	D	-0.12%
AWK	D	-0.12%
VTR	C	-0.12%
FITB	A	-0.12%
WAB	B	-0.11%
WBD	C	-0.11%
FANG	D	-0.11%
DOW	F	-0.11%
CAH	B	-0.11%
BR	A	-0.1%
LDOS	C	-0.1%
FTV	C	-0.1%
GPN	B	-0.1%
INVH	D	-0.09%
EQR	B	-0.09%
BBY	D	-0.09%
TTWO	A	-0.09%
LVS	C	-0.09%
NTRS	A	-0.08%
AEE	A	-0.08%
CHD	B	-0.08%
SW	A	-0.08%
DKS	C	-0.08%
LPLA	A	-0.08%
CNP	B	-0.08%
OMC	C	-0.07%
KMX	B	-0.07%
LYB	F	-0.07%
PNR	A	-0.07%
DG	F	-0.07%
J	F	-0.07%
SSNC	B	-0.07%
EQT	B	-0.07%
KEY	B	-0.07%
KIM	A	-0.07%
MAA	B	-0.07%
FDS	B	-0.07%
WY	D	-0.07%
HST	C	-0.06%
UTHR	C	-0.06%
EL	F	-0.06%
AMCR	D	-0.06%
TRU	D	-0.06%
PINS	D	-0.06%
MGM	D	-0.06%
FBIN	D	-0.05%
INCY	C	-0.05%
RPM	A	-0.05%
SNAP	C	-0.05%
BBWI	D	-0.04%
CRL	C	-0.04%
Z	A	-0.04%
RIVN	F	-0.04%
OVV	B	-0.04%
PARA	C	-0.04%
DAY	B	-0.04%
AIZ	A	-0.04%
NBIX	C	-0.04%
WYNN	D	-0.04%
CE	F	-0.03%
NWSA	B	-0.03%
APA	D	-0.02%
ACI	C	-0.02%